Protecting Your Investment, One Wave at a Time
Who We Are
GEICO Marine Insurance is a leading provider of insurance coverage for boats and yachts. With a rich history dating back to 1989, we have established ourselves as a trusted and reliable name in the marine insurance industry. Our company was acquired by Berkshire Hathaway in 2007, providing us with the support and resources necessary to offer exceptional coverage to our policyholders.
Our Mission
At GEICO Marine Insurance, our mission is to provide superior insurance coverage for boat and yacht owners. We understand the importance of protecting your investment and ensuring that you can enjoy your time on the water without worrying about unexpected costs. Our underwriting experts have developed policies that offer essential coverages for every boater, including agreed value coverage, diminishing deductibles, and choice of medical and liability limits.
Our Services
Our comprehensive insurance policies are designed to provide peace of mind for boat and yacht owners. We offer a range of coverage options, including:
- Liability Only Policy: A low-cost policy for boats and yachts that do not require hull coverage.
- Actual Cash Value Policy: A policy that provides coverage based on the current market value of the boat or yacht.
- Agreed Hull Value Policy: A policy that provides coverage for the full value of the boat or yacht, minus depreciation.
Our Benefits
In addition to our comprehensive coverage options, we also offer a range of benefits, including:
- 24/7 Emergency Towing Service: Our policyholders can access emergency towing services for breakdowns on the water or road.
- Salvage Assistance and Wreck Removal: We provide assistance with salvage and wreck removal services to minimize the impact of an accident.
- Fuel Spill Liability: Our policies include coverage for damage and assessments resulting from the unintentional discharge of oil or fuel.
About Our Practices
At GEICO Marine Insurance, we are committed to providing exceptional customer service and claims processing. Our experienced adjustors are dedicated to helping policyholders in the event of a claim. We understand the importance of fast and fair claims processing and strive to provide a seamless experience for our policyholders.
Conclusion
At GEICO Marine Insurance, we are dedicated to providing superior coverage and exceptional service to boat and yacht owners. With a range of coverage options and benefits, we believe we can provide the right insurance solution for your needs. Contact us today to learn more about our policies and services.
Insurance Coverage Issues
Many reviewers have expressed dissatisfaction with Geico Marine's insurance coverage. Some have reported being denied coverage for their new boats, while others have experienced issues with Actual Cash Value depreciation, which can lead to reduced payouts.
Poor Communication and Customer Service
Reviewers have also complained about the company's communication and customer service. Some have reported being told one thing by the company, only to be told something else later on. Others have experienced long response times and unhelpful representatives.
Premium Increases
Several reviewers have reported receiving large premium increases, often with little or no explanation from the company. One reviewer reported a 42% increase, while another reported a 30.25% increase.
Claim Denials and Delays
Some reviewers have reported having their claims denied or delayed, with the company expending resources to find reasons to deny claims rather than paying out. One reviewer reported having an investigator hired to dispute their claim, despite the fact that their boat was nearly brand new.
Lack of Transparency and Honesty
Reviewers have also expressed feelings of distrust and dishonesty towards Geico Marine. Some have reported being misled about coverage and claims, while others have felt that the company is more interested in profiting from them than providing fair and honest service.
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